Financing a Meineke Car Care franchise

Financing a Meineke Car Care: common questions

How much do lenders finance for a Meineke Car Care franchise?

The median SBA loan approved for a Meineke Car Care franchise is $236,000, with the middle 80% of loans between $25,000 and $767,500. That is the financed portion only - it excludes the buyer's equity injection, which SBA lenders typically require at 10% or more of total project cost for a business acquisition or new franchise unit.

Which lenders finance Meineke Car Care franchises?

By dollars approved, the most active SBA lenders for Meineke Car Care have been The Huntington National Bank, Newtek Small Business Finance, Inc., BankUnited, Rockland Trust Company. Many franchise brands also maintain their own lists of preferred lenders, which may differ from who has historically approved the most volume.

How long are Meineke Car Care SBA loans?

The median term is 16.8 yr. SBA 7(a) terms run up to 10 years for working capital and equipment, and up to 25 years when the loan is secured by real estate - so a longer median usually means the loans included property.

Do Meineke Car Care SBA loans get charged off often?

18.2% of Meineke Car Care loans approved between FY2010 and FY2019 that have reached a terminal status were charged off, against 7.6% across all SBA lending. Franchise-level charge-off rates reflect the era a brand expanded in as much as the concept itself - brands that grew hardest into the 2010s carry more seasoned, and more resolved, loans.